Healthcare counters gain strength

BIOSENSORS INTERNATIONAL ($1.345) – Should move higher
- Quarterly momentum appears to be under pressure
- Prices are likely to move up at least to resistance at $1.40
- If price breaks above resistance, it indicates an objective of $1.60
- Support is at $1.26

FIRST REIT (79.5 cents) – Superior relative strength
- One of the strongest stocks in healthcare sector
- 80 cents may provide resistance in the immediate term
- Break above resistance indicates objective of 95 cents
- Support is at 76 cents

RAFFLES MEDICAL GROUP ($2.34) – Attempting to recover
- Chart pattern could be showing signs of strengthening
- Resistance is at $2.35 level
- Successful break indicates target of $2.55

PARKWAY LIFE REIT ($1.83) – Facing resistance
- Support is at $1.79
- Resistance is at $1.84 to $1.85 level
- Low ADX points to a very narrow range in price movement

CHINA HEALTHCARE (17.5 cents) – Poised for breakout
- Appears poised for a breakout
- Resistance is at 17.5 cents
- Successful break indicates a target of 22 cents

HEALTHWAY GROUP (9.1 cents) – Weakest stock in sector
- Weakest of the healthcare stocks
- Support is at 9 cents
- Break below this level indicates a target of 4 cents

(Source: TheEdgeSingapore July 11, 2011)